In a disclosure to the Philippine Stock Exchange, Cebu Pacific's parent Cebu Air Inc. said it has entered into a debt-to-equity conversion with 1Aviation Groundhandling Services Corp.
The swap will wipe out previous advances and loans issued by Cebu Air to 1Aviation, amounting to P113 million, by converting them into equity, as approved by shareholders.
Cebu Air will then raise its ownership stake in 1Aviation to 60 percent once the Securities and Exchange Commission (SEC) approves the conversion. Currently, Cebu Air owns 40 percent of 1Aviation.
Diese Geschichte stammt aus der October 30, 2024-Ausgabe von The Philippine Star.
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Diese Geschichte stammt aus der October 30, 2024-Ausgabe von The Philippine Star.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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